Offshore staff
STAVANGER, Norway — Equinor has acquired a 25% interest in Bayou Bend CCS LLC, a carbon capture and storage (CCS) project along the Gulf Coast in southeast Texas.
Bayou Bend is positioned to be one of the largest CCS solutions in the US for industrial emitters, with nearly 140,000 gross acres of pore space for permanent CO2 sequestration and gross potential storage resources of more than 1 billion metric tons. The Bayou Bend total acreage includes nearly 100,000 gross acres onshore in Chambers and Jefferson Counties, Texas, and about 40,000 gross acres offshore Beaumont and Port Arthur, Texas.
Bayou Bend is Equinor’s first announced low-carbon solutions project on the Gulf Coast.
Bayou Bend is a joint venture between Chevron U.S.A. Inc., through its Chevron New Energies division, Talos Energy Inc., through its Talos Low Carbon Solutions division, and Equinor. Equinor acquired its 25% share through the purchase of Texas Carbon 1 LLC, a subsidiary of Carbonvert. Chevron is the operator with 50% interest, and Talos holds 25% interest.
The project’s location near major industrial corridors in the Houston Ship Channel and Beaumont / Port Arthur area will provide a potential decarbonization option for industries such as refining, cement, steel, chemicals and manufacturing. Industrial emissions in the Texas Gulf Coast region are estimated to be about 100 MMmetric tonnes of CO2 per year.
Grete Tveit, senior vice president for Low Carbon Solutions in Equinor, said, “Commercial CCS solutions are critical for hard-to-abate industries to meet their climate ambitions while maintaining their activity. Entering Bayou Bend strengthens our low-carbon solutions portfolio and supports our ambition to mature and develop 15-30 million tonnes of equity CO2 transport and storage capacity per year by 2035. Our experience from developing carbon storage projects can help advance decarbonization efforts in one of the largest industrial corridors in the US."
08.28.2023
